55670 . .
ORDIN:_NCE j# 557
AN ORDINtiNCE niT'".- 'URILING aND DIRECTING viii:, bliL YUR �IvD CITY CLERK
OF ill.E CITY OF LITTLE ROCK, ARKS TSAS, TO J�CUT'E AND DELIVER TO TIM
ATI�7.L B& OF LITTLE x C AN A SIGN1; 11T OR PLEDGE OF ALL
THE UNCOLIsECTED GENERAL MU11ICIPAL PROPERTY Ti:LzM NOW EXTENDED UPON
THE PUI.,sSKI COUT= TA B:01r -S U BE COLLECTED DURING THE YEAR 1938.
BE IT ORDA.IMED BY TIE CITY COUNCIL OF THE CITY OF LITTLE ROCK,
ARTKj, -NS.'titi :
Section 1 - The mayor and the city clerk of the City of Little
Rock, urkansas, are hereby authorized and directed to execute and
deliver, on behalf of the City of Little Rock, to The Peoples National
Bank of Little Rock a pledge or assignment of all the uncollected
general municipal property taxes now extended upon the Pulaski County,
urkansas, tax books to be collected during the current year of 1938
for the purpose of securing the payment of all warrants issued by the
City of Little Rock covering current operating expenses for the year
1938 novi held by the said The Peopl:£s National Bank of Little Rock or
which it may hereafter acquire.
Section 2 - .- hereas, the financial condition of the City of
Little bock is such that said institution will not acquire or handle
additional warrants unless said assignment or pledge is executed,
w1lich if not executed ;vould endanger the peace, health, and safety
of the City of Little mock, and an emergency is hereby declared to
exist, and tii's ordinance small be in full force and effect on and
after its passage and approval.
Passed: March 14, 1938
Attest: "
City Clerk.
Approved:
\� r
Mle yor.